New Collector Coin Marks Single Biggest Purchase of Fairtrade Gold

Fairtrade International is delighted by the launch of a new collector coin by Fairtrade Lëtzebuerg, which was commissioned by the Banque central de Luxembourg to celebrate the 175th anniversary of Luxembourg’s independence.

SOTRAMI associates in Peru use a hand rake and sack, and required safety equipment while they work. By Nigel Wright

Presentation of the new Fairtrade gold collector coin at the Banque centrale du Luxembourg commemorating the 175th year of independence. By Anne Backendorf

By Anne Backendorf

26 June 2014

The move amounts to 2,500 gold coins and represents the single biggest purchase of Fairtrade gold. The coins carry both the Fairtrade and the Fairmined labels.

To make the coins, smallscale artisanal miners from Aurelsa and Sotrami in Peru had to produce a significant 15 kilos of gold certified on Fairtrade terms. As well as the fair price the miners were paid, the organisations received a development premium of €34,000 that will be used for carrying out social projects.

Maria Rosa Reyes, manager of the Aurelsa organisation said: “Today is a big day for the Aurelsa mining community, small-scale mining and my country, Peru. After so many efforts to obtain the certification for our mine, we finally see our gold and our responsible extraction process recognized by the Bangue central du Luxembourg. We hereby prove that mines can produce responsibly and we hope that those coins inspire millions of miners to follow our example.”

Fairtrade gold was first introduced to the Luxembourg market in 2012 with seven participating jewellers. Fairtrade gold is also available in other Fairtrade markets including Australia, Belgium, Canada, Denmark, Netherlands, Norway, South Korea, Sweden and the UK, with other markets soon to follow including the USA and Switzerland.

Harriet Lamb, Chief Executive of Fairtrade International said: “We congratulate the Banque central du Luxembourg on the largest single purchase of Fairtrade gold. This collector coin is more than a symbol of independence – it is supporting the miners and communities of Peru to gain independence from poverty.

“We urge banks and companies to follow their pioneering example so that more artisanal and smallscale miners can have a fair price, safer working conditions and much-needed investment into their communities.”